A new meme coin on Solana , Peanut the Squirrel, has surged by 1378% over the past week, hitting a record high of $2.47. The coin has quickly emerged as one of the most impressive meme coins in the market, gaining immense attention and admiration.
Following a supportive tweet from Elon Musk, who hinted at the impact of meme coins, the coin’s value surged dramatically.
$PNUT, which currently holds a market cap of around $1.94 billion with its 1 billion token supply, has shown both explosive growth and significant volatility, drawing in a high volume of investments from buyers hoping for substantial gains.
The rapid rise of $PNUT has already provided early investors with extraordinary returns, some seeing as much as a 1,000x on their initial investment. However, with the coin’s current elevated price, newer investors now face a higher level of risk if they aim to achieve returns on the same scale.
Despite the risks associated with chasing a coin that’s already seen massive gains, there’s still potential for further price movement if market interest and buying pressure continue.
With Peanut the Squirrel trading at over a billion dollars in market capitalization, some speculate that, if it reaches 20% of Dogecoin’s valuation, it could rise to around $10, offering a possible 400% gain from current levels.
Peanut the Squirrel Price Prediction
At the time of writing, $PNUT is trading at $1.93 with a price increase of 29% in the past 24 hours. Although Peanut the Squirrel has gained substantial momentum, a few cautionary factors remain.
Market trends show a slight decline in trading volume, and if this trend continues, a correction could occur, potentially creating an opportunity to buy at lower levels.
$PNUT’s price resilience, however, depends heavily on sustained support and interest, particularly from high-profile influencers and major exchanges that list it. If these factors remain in play, the coin could potentially reach between $3 to $6, with an optimistic projection of $10.
Investors should be mindful of the inherent volatility and the risk of being “exit liquidity” for early holders taking profits as new investors enter.
For a detailed analysis of Peanut the Squirrel’s price prediction, be sure to watch the video above and subscribe to his YouTube channel . Jacob Crypto Bury also manages a Discord community with over 27k members, providing trading tips and insights on upcoming crypto presales .
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